Loews CEO: Obama Administration 'Anti-Business'

The Obama Administration has not instilled confidence in investors, said James Tisch, Loews president & CEO.

“They’ve been particularly anti-business and I think the stock market has been listening carefully to that,” he said. “They not only go after hotel companies, but they go after bank executives; they want to cap compensation.”

All three segments of Loews’ business, including hotels, energy and insurance, have been hit hard by the recession, said Tisch. The policy of taxing profits at home and abroad, meanwhile, will push companies like General Electric to reincorporate in Switzerland, he said.

“Congress has done a very good job of telling people ‘don’t go to hotels,’” said Tisch. “John Kerry forgets that many Democratic constituents are bellhops and waiters and waitresses and housekeepers and front desk clerks.”